for karene trouble heranos. t ♪ i emily chang in bloomberg best west. what it takes to view industry leader like bill gates, jeff bezos, and microsoft very former

ceo steve ballmer says use the company's third-largest shareholder and last one of the stars of problems million on your listing if it is a bubble about to burst. to our lead. new troubles for the blood testing start of their. -- up theranos. a wall street journal report says the fda pressured them to tests.he number of our biotechow is reporter. what is the very latest that we know? i spoke toernoon elizabeth who revealed to us that they are only doing one test out of all of the ones that

offers emily: on their fingerprint technology. and they were doing this voluntarily? she says they had decided to transition from the old flat or which is a different left-center to fda cleared to play. have a singlenly test cleared by the fda via running everything else on a traditional lab tech event running one cleared test. they have submitted over a hundred test satisfied to the fda and their balls to remove one by one back into their own platform. emily: what do we know? did the fda should have unannounced visit to they compel the not to use this technology more broadly? >> we do not know. and they have not responded to questions since last night on the journal story on what the fda has done. the fda is also not commenting on what they have or have no

doubt. we know that the fda does not require regulation of diagnostic test. but in recent years they have been stepping up their oversight more and more because they are hurting -- starting to go direct to consumers and that is when the fda gets concerned. emily: we spoke to a leading endocrinologist who is very sort of blood blood testing. he was very skeptical. we realized he works for intermountain. is negative on the company and technology despite the fact that his employer seems to approve of it. listen to a quote from that interview. >> senior doctors and biotech scientists have been paying attention for a long time because their claim of it too great to be true. i've been asking them for their data. they refused to provide it. they do not play by the rules of science or medicine. they are not transparent. emily: he went on to say that of the and, in terms

have been used to be tested for inaccurate result in the adult. -- for anu make accurate result do not add up. what do you make of this? >> on hospital system that has sided with theranos. so far they have not actually use the test. a pilot setting up study. what they told us is that this doctor does not speak on behalf of of intermountain. perhaps is nice and just coming from the same location. they are playing to go ahead with the pilot that he, but they do not have a date for a time for when they will start it. emily: is the real risk reputational or is there a real risk to the business? reputation is a risk to the business right now because it is going out and saying we have innovative technology that is going to really challenge these huge companies, and in

order to really disrupt the industry people need to be ordering their test. if they do not have a good reputation and doctors are not convinced. if they do not start showing doctors that have of data they are asking for, that is going to create to their business. standing byll be for any additional comments. t why so much. surprising investment disclosure. biggerallmer owns a stake in ceo jack dorsey. this came out over night. you were trying to confirm it. you did confirm it. tell us about what happened and what you heard from ballmer. >> i got help from my colleague in bloomberg sports who spoke with older.

it was very strange because we saw this tweet this morning from an unverified account. we were not sure if it was steve himself who had tweeted the news that he made this big investment in twitter. we were frantically try to get a hold of him. when we did we set the story of online and the stock shot up. emily: the tweet congratulates jack and approves of the layout. but why would jack dorsey want steve ballmer in his corner? what if you bring to twitter? >> that is a good question. it depends on who you ask. i spoke to some analyst who have followed microsoft for a long time, and they were saying this guy made a few wrong call in the macro text story. they are not sure if he is the best guide to have as an investor. but another analysts said he knows a lot about the sports industry in the media industry.

he is the owner of the clippers, he is very plugged into that world. as twitter tries to become the company that is go to place for all live events, if you want to know what is going on with the event,ith the major news that is their vision. he is the one who can help them with that. emily: he thinks ballmer might want a seat on the board. jack dorsey has sent the board is about to change dramatically. we will see steve ballmer ends up on there. thank you so much. now alibaba is boosting its best on only video. -- online video. they are buying a youtube like service on -- in china. ownership will help jack ma deliver u.s. films and drama series to over a third of the u.s. population -- chinese population.

adding up to over $13 million worth of transactions. shares are down about 30 percent so far this year. withg up, my conversation the sequoia capital chairman. ♪

emily: some breaking news to tell you about. roups'parent company is

going public. the company had filed for a $100 million initial public offering. the stock will list all the nasdaq under the ticker symbol m tch. tup incubator y, nader gets into late stage. called the why can't the greater continuity fund. it will be run by former twitter chief operating officer ally regarding. firm in a tricky position. staying in venture capital, sir michael morse is knowing or -- known for have the lucrative foresight and being in google,

paypal. he is the chairman of sequoia capital. as agan his prayer journalist followed in the early days of apple and steve jobs. he is referred to as writing roots in a new book on leadership. . i sat with him earlier today and asked about the traits that make a great leader. , in: if you think about silicon valley terms of the people have been very successful in building technology companies , today you might look at jeff bezos or mark zuckerberg. with people are obsessed the products that they want to build at the beginning. and then there companies. i think the very successful holdingre great at teams around them in dealing with people. think those are the hallmarks. get some of the really great

technology companies that teams good at the top. its heyday had a very stable management team, the same has been true at apple products. you are so well known for your time chronicling the early days of apple and he spent time with jobs can you were in favor with him, you were out of favor with him. byonder what you learned watching steve so closely about what makes a good leader and what makes a bad leader. the thing that steve has been common with alex is these perfection.it of respec he was always thinking about the next thing. way, the pursuit

of the perfect record was always what he was thinking. his product was a team of football players on a saturday afternoon. the -- there are some real similarities. that is the distinctive hallmark of a truly great leader is the great is never great enough. were a lot of qualities about steve's that were so controversial. we are stuck about him with regard to the good, the bad and the ugly. --the job spot only good one jobs model a good one? i was a huge admirer, and a huge admirer of the. it is very easy for people to smite him. i do not think any of us,

particularly people who grow with stable backgrounds, have a sense, and i'm no psychiatrist but i do not think any of us really understand the end because consequences of being put of production, and how that affects your life afterwards. i would pretend to understand it. do not see also about steve's, and i am not trying to whitewash the fact is that this was an individual very capable when he wished of showing great empathy and compassion. he could feel, he could feel deeply, for others? mike: it honestly so. there are details that go unheralded and not talked about of him going to visit people in house totals for talking on the front doors of friends houses when he knew that that person was sick and ill. to,ously people like

there's this morbid fascination with the less savory us next of his character. one -- steve is the most remarkable person that i have met. emily: out of curiosity, where did you leave it with him? mike: sadly, unfinished. emily: you wrote this book before jack dorsey was named twitter. said twitter85 you has the unenviable task of ceo.g a fourth it is the only silicon valley company that went from strength --strength, which was by the twoun

official founders, and then a third qualified cofounder. obviously is a cofounder of twitter. i think there is a big advantage to companies that are run by people who founded them or in the case of alex had a real ownership and holiday. ownership mentality. intel, it was that intelligent. that twitter, it is the return of the filter. examples thatr one can think of or refund or has returned. most notable example is the joe. they have done very well. return to run his company when it went off the rails for a little bit into the from

strength to strength. toi think it is far better feels everyder back as to the occasion and ownership .f the company men emily: what do you see as his main challenge? scarlet: we have not been investors and sweater. mike: we are investors in square. the technology companies begin and end with the product. jack has not been bashful about saying that the products it to your needs improvement. that is where his strengths lie. as soon as the product improves, --sumably says kevin bruce

the boards of companies have said we will go with this and we supported. alix: co-author of the book leading. you can catch my in-depth conversation on studio 1.0. coming up, how long can the san francisco real estate level -- double last? ♪

emily: the latest films for single and drafting. nevada is state to bandini reddit fantasy sports after regulators developed it as a team of gamble and not a game of skill. despite the controversy last week was the two companies pulled on them over $43 million in entry fees. it is a record. it is no secret that investment tampa real estate has become insanely prospective. we follow three real estate brokers dealing with the amount lease listing is in the market. tech workers are driving prices up. >> technology is the new gold

rush. apple, twitter, in the bay area. they would have the highest going up 34% in the last two years. emily: joining me now is our licensed real estate rocker and star of million dollar listing. q why do you have you. my going to be underwater? >> if you bought it two years ago, more than likely you have artie made about money. alix: is the bottom going to fallout at some point? real estate is cyclical, everybody knows that. it is great rise of the market will actually adult. or with all financial crisis and why price will actually ineriorated was because

order to get a loan, how difficult and stringent it is. august was a rather slow month. family solidification, brokers and agents were taking it mellow. what happened is right after labor day, which is a very big push for the real estate market, especially in the bay area goaltends of properties came on the market. lot ofis heading options. give them a sense that we could begin just what we want because there's a lot more inventory on. i'm glad it didn't pull that out

. we have a very low inventory rate. the healthy work in the state that six months worth of inventory. .e had less emily: i would to talk to you about the people you refer to as the tech people. he wise one of them to come to your open houses. how are they different than regular people? >> two days ago day for twitter. i feel like i will get some calls. some people have invested in stock options, that is having these enormous down payments and those who are working here in the city. there is a lot them live here, a lot of them renting or was rent. taking buses, they have

everything you want. city of the playground now. emily: what is the craziest text relating buying story you have? they are the most fun clients . emily: how long will the good times last? >> a couple more years to go. by now. -- i: agriculture to the will hold you to that. thank you for joining us. tune into the show on bravo. that doesn't for this edition of bloomberg west. have a wonderful friday. we will see you on monday.

wave of a recent violence as raise tensions in jerusalem. eight israelis were killed in stabbings over the past month. responded.ces thewhite house announced secretary of state john kerry will be traveling to the region soon. joining us now from washington as a fellow at the brookings institute and a former advisor to the palestinian leadership. here in new york, the u.s. editor ofhe